MOLINE, Ill., Nov. 2, 2015 /PRNewswire/ -- Deere &
Company (NYSE: DE) said today it has signed a definitive agreement
to acquire Monosem, the European market leader in precision
planters. The purchase includes the company's four facilities in
France and two in the United States.
"Through this action, we continue to build on our leadership
position in precision agriculture," said John May, president, Agricultural Solutions and
Chief Information Officer. "Monosem is admired for its innovation
and success in precision planter technology that helps farmers
increase production. Acquiring this market leader positions John
Deere to serve more customers worldwide."
Deere does not plan to change the independent nature of Monosem.
May said the business will retain its own brand and trademark and
will leverage its own operational strengths. Monosem has been a
family-owned enterprise through three generations since it was
founded in 1948.
The acquisition of Monosem, May added, helps accelerate John
Deere's market reach in precision planting equipment and adds
engineering expertise to further develop planting technology. "We
remain focused on helping our customers increase their
productivity," he said.
Deere & Company is a world leader in providing advanced
products and services and is committed to the success of customers
whose work is linked to the land – those who cultivate, harvest,
transform, enrich and build upon the land to meet the world's
dramatically increasing need for food, fuel, shelter and
infrastructure. Since 1837, John Deere has delivered innovative
products of superior quality built on a tradition of integrity. For
more information, visit www.JohnDeere.com.
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SOURCE Deere & Company